KuCoin (The People's Exchange) Vs Binance - An Important Factor to Consider for Investors
Both KuCoin and Binance, as cryptocurrency exchanges go, have a lot in common. They look similar. They operate in a similar manner. And they are both very good at promotion. Which led to Binance rocketing to become one of the biggest exchanges in crypto-land within a matter of months. And is right now sending KuCoin on a similarly upwards trajectory.
But for investors in the native currencies of these exchanges, BNB, and KCS, there is at least one very noticeable difference.
Binance and BNB
Binance recently came in for some strife over at their Twitter account. When with their Christmas day promotion, of offering up a brand new Lamborghini (an oft-cited icon of crypto-success), smaller investors complained that this compettion, as with most of those offering free cars and the like, left smaller BNB holders out in the cold, and without any real chance of competing for the prize against whales. The following are just a few of the many many comments left by dissatisfied BNB investors and Binance users...
How can Binance afford to give away such prestigous cars to their whale users? All cryptocurrency exchanges collect fees from all trades conducted on their platforms. And with a daily volume of circa 3 billion at time of writing - that's a fair chunk of money. Money that Binance uses to offer such grand trophies - no only, seemingly, to the already wealthy...
KuCoin and KCS
As stated above the KuCoin exchange and Binance are in many ways very similar. Though Binance has been operating roughly four months longer than KuCoin, and in that time-frame, has become a major player in the facilitation of cryptocurrency trading.
KuCoin is a little younger, but with a strong team, and through the frequent cementing of strong partnerships, and addition of new coins - it's blowing up fast. Having (at time of writing) jumped from a daily trading volume of 5-7 million, to over 30 million, in the last few weeks alone.
And at Kucoin Exchange, in regards to what they choose to do with the collected fees. They like to do things a little differently.
The People's Exchange
While the KuCoin Exchange does offer promotions and prizes from time-to-time in a similar manner to Binance, what seperates KuCoin from Binance, is the fact that Kucoin, share all of the fees collected with holders of their native currency, KCS. Much like some proof-of-stake rewards offer staking rewards, and NEO offers GAS as a dividend.
KCS holders receive, every day, a percentage of the collected fees taken on the exchange. Paid out in a mixed-bag of cryptocurrency, made up of every coin traded on the exchange. And while the following image is a little outdated now (as i@ve since collected considerably more), it will give you some idea of what the dividends paid out to KCS holders look like...
And of course, the larger the exchange's volume grows, and the more coins they add (a predicted 1000+ by mid-2018), the more profitable, and diversified your daily crypto-dividends earned become.
The potential of which you can check below, per holding 10,000 KCS at any particular future daily volume transacted...
Rewarding all holders of KCS, and not just the whales.
And the potential earnings data above, doesn't take into account growth in the value of any coins paid out as dividends themselves. Which, as an example, can be demonstrated by explaining that KCS holders were earning dividends in RedPulse (RPX) back when RedPulse was at around 300 sats. At time of writing RedPulse is valued at roughly 1590 sats. So even the value of those particular dividends have X5. As have others (though of course their value can also drop).
Like the sound of KCS, and KuCoin, the people's exchange - come join us: HERE.
Where if you're fast, you'll also be able to take part in the KuCoin exchange's "Christmas Gift", with which they will be giving back over a million dollars worth of Bitcoin, divided up among all holders of KCS, big and small, to their investors...
That's a pretty nifty way of marketing your exchange, as the coins given out must also be traded at some point, and that helps the volumes on the exchange.
What are the withdrawal fees on KuCoin?
That's true (though I'm not connected with the exchange other than as an investor).
Not sure of that off-hand, sorry. Go take a look at the site if you haven't already. You'll likely find that info over there. :)
ok, but that seems kinda important to know, if yu're actually USING the exchange, no?
Disclaimer: I am just a bot trying to be helpful.